September Grants Update – Young Farmer Duty Exemption and Wage Subsidy

Young Farmer Duty Exemption or Concession

This program aims to provide a duty exemption or concession for a young farmer buying a first farmland property in Victoria.

The extent of the exemption depends on the date of transfer (not contract):

• Transfers from 1 July 2018:
1. A full exemption from duty is available on farmland valued at $600,000 or less.
2. A concession from duty is available for farmland valued from $600,001 to $750,000.
• Transfers before 1 July 2018:
1. A full exemption from duty is available on farmland valued at $300,000 or less.
2. A partial exemption from duty is available on farmland valued at $600,000 or less.  This is calculated by subtracting the duty payable on $300,000 from the duty payable on the value of the farmland (of $600,000 or less).
3. A concession from duty is available for farmland valued from $600,001 to $750,000.

For more information, click here

Workforce Australia – Wage Subsidy

This program aims to support businesses that hire eligible individuals into ongoing jobs. It will help with some of the initial costs of hiring the new employee to help ensure the success of their employment.

Wage subsidies up to a maximum of $10,000 are available.

Applicants are required to contact their Workforce Australia, ParentsNext or Transition to Work provider to help them find the right person for the job. The provider will work with the applicant to determine whether a wage subsidy is the best type of assistance. Other forms of assistance may also be a good fit, and the provider will be able to suggest the best option to suit both for the applicant and the new employee.

To access a wage subsidy, businesses will need to enter into a wage subsidy agreement with their provider and must finalise the agreement online within 28 days of the new employee’s start date to be eligible for payment.

For more information, click here